Active

1870 S Elena Avenue

Redondo Beach CA, 90277

$7,700,000


$1,462.49 per sqft

Active

5,265 sqft

Commercial

Built in 2008

Listed by Jay Horrell with Horrell Realtors 310-373-7777

A rare opportunity for an investor or owner user to purchase a generational trophy property in the heart of Riviera Village. This property is ideally suited for an owner-user seeking premium commercial space or an investor looking for lucrative returns. The flexibility of the current tenancy allows for easy adaptation to an Owner-User's specific needs. Or as an investor to capitalize on the Riviera Village's high rental rate, ensuring a rewarding long-term investment. This property is a NNN offering with $364,000 current NOI. In 2025 the annual rental income increases to $386,615 providing a 5% cap rate.
This Jewel Box was constructed in 2008, the newest built retail space offered for sale in Riviera Village in decades. Consisting of 5,265 square feet of prime versatile retail space. A restaurant occupies 2,041 sq. ft. A retail store front occupies the remaining space which could be divided to create two separate retail store fronts. Positioned on a high visibility corner, four (4) parcels totaling 14,430 square feet with a combined 125 feet of frontage on Catalina Avenue and Elena Ave. The property enjoys heightened visibility and foot traffic, ensuring constant exposure to a vibrant customer base. Convenience and accessibility are at the forefront with twenty one (21) parking spaces, making it easy for customers to visit this high-profile walking street location. Riviera Village in Redondo Beach, California is a charming and vibrant destination that perfectly encapsulates the city's laid-back coastal lifestyle and unique blend of urban sophistication.
The "Village" is not just about shopping; it's also a culinary destination. A diverse range of restaurants and cafes, with inviting outdoor seating, cater to a variety of tastes. Whether you're in the mood for artisanal coffee, international cuisine, or farm-to-table dining, you'll find many options.
PLEASE DO NOT DISTURB THE TENANTS.

SB24036864

MLS ID

March 12, 2024

Listed

April 16, 2024

Updated

Map

1870 S Elena Avenue
Redondo Beach CA, 90277

Interior Features

Total Stories

1


Laundry Description

None


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Forced Air

Exterior/Building Features

Lot Size

0.33 Acres


Lot Features

Corner Lot, Irregular Lot, Landscaped, Level, Street Level


Roof

Composition, Flat

Other Property Details

Area Name

157 - S Redondo Bch W of PCH


Days on Market

35


Garage

No


View

No


County

Los Angeles


Water Source

Public


Pool

No


Zoning

C-2


Buyer Agency Compensation

2%

Listing Contact: 310-373-7777 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 4/16/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 4/16/2024 at 6:11 PM UTC

 

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